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The Federal Financial Institutions Examination Council released 2022 Home Mortgage Disclosure Act data for 4,460 U.S. financial institutions.
Key Data: The FFIEC said:
The number of reporting institutions increased by roughly 2.63% from 4,338 the previous year.
Among the 14.3 million reported home loan applications, 11.5 million were closed-end, 2.5 million were open-end, and 287,000 were not reported either way due to the S. 2155 regulatory relief law's partial exemptions.
The share of mortgages originated by non-depository, independent mortgage companies accounted for 60.2% of reported loans, down from 63.9% in 2021.
The share of closed-end loans to African American borrowers rose from 7.9% to 8.1%, the share to Hispanic-White borrowers decreased from 9.2% to 9.1%, and those made to Asian borrowers increased from 7.1% to 7.6%.